The Golden State Valkyries are entering into the 2025 season with a leg up on both 2026 expansion teams (the previously announced Toronto Tempo and as-yet-unnamed Portland, Oregon team) for one key reason: the Bay Area newbies inherited multiple rookie, reserved, and suspended contracts.
This means the team's cap space will be quite generous as they head into free agency and the WNBA draft. In fact, the Valkyries have the most available cap space of any team in the league — something that Toronto and Portland likely won't be able to replicate after a new CBA is negotiated with the WNBPA.
The team has several players who are in the WNBA on either rookie or suspended contracts, all of which helps the Valkyries in the long run. Here's a look at the contracts in question:
Kate Martin
The former Aces guard was drafted in 2024 and won't be able to renegotiate a contract until the 2028 season. The Valkyries will pay Martin $68,595 for the 2025 season, $75,456 for 2026, and $85,745 in 2027. The Valkyries can then exercise Martin's fourth-year option, which will result in at least a 5% salary increase (over her 2027 pay amount).
Maria Conde
Conde was drafted in the third round in 2019, but still hasn't played in the WNBA — and this season might not change that. In fact, the forward has been clear that her priority is her national team in Spain. "If there wasn't the national team, for sure I would be trying to go," Conde told The Athletic in 2022. She is currently playing for USK Praha in Czechia.
Conde's WNBA designation is currently suspended-contract expired. In terms of negotiating with the Valkyires, this means she will be eligible for the 2025 league minimum of $66,079.
Iliana Rupert
Rupert voluntarily sat out the final year of her rookie contract to stay in France and play for the national team. This gives the center the abilty to negotiate directly with the Valkyries, much in the same way a reserved free agent can.
All players with three or fewer years in the WNBA are eligible for reserved qualifying offers for the league's minimum base salary. In 2025, that amount is $66,079.
Julie Vanloo
Like Rupert and Conde, Vanloo hasn't had a lot of on-the-court experience in the WNBA. Vanloo played one season with the Mystics last year, and has otherwise played overseas (she and Valkyries teammate Cecilia Zandalasini currently play together for Galatasaray SK in Istanbul. As a result, Vanloo is eligible for a reserved qualifying offer of the league minimum.